Mesirow Financial Investment Management Equity Management Reduces Position in Barnes Group, Inc. (B)

Mesirow Financial Investment Management Equity Management reduced its holdings in Barnes Group, Inc. (NYSE:B) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,850 shares of the industrial products company’s stock after selling 8,410 shares during the quarter. Barnes Group accounts for 1.4% of Mesirow Financial Investment Management Equity Management’s holdings, making the stock its 23rd biggest position. Mesirow Financial Investment Management Equity Management owned about 0.54% of Barnes Group worth $20,626,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Barnes Group by 1.3% in the second quarter. BlackRock Inc. now owns 6,147,376 shares of the industrial products company’s stock worth $359,804,000 after acquiring an additional 77,829 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Barnes Group by 1.2% in the second quarter. Vanguard Group Inc. now owns 4,588,211 shares of the industrial products company’s stock worth $268,548,000 after acquiring an additional 55,741 shares in the last quarter. Northern Trust Corp increased its position in shares of Barnes Group by 6.3% in the second quarter. Northern Trust Corp now owns 1,664,281 shares of the industrial products company’s stock worth $97,410,000 after acquiring an additional 98,189 shares in the last quarter. State Street Corp increased its position in shares of Barnes Group by 3.8% in the second quarter. State Street Corp now owns 1,288,147 shares of the industrial products company’s stock worth $75,394,000 after acquiring an additional 47,590 shares in the last quarter. Finally, Rothschild Asset Management Inc. increased its position in shares of Barnes Group by 1.6% in the second quarter. Rothschild Asset Management Inc. now owns 663,781 shares of the industrial products company’s stock worth $38,851,000 after acquiring an additional 10,331 shares in the last quarter. Institutional investors and hedge funds own 87.57% of the company’s stock.

A number of brokerages recently commented on B. Robert W. Baird reaffirmed a “hold” rating and set a $65.00 price objective on shares of Barnes Group in a research report on Sunday. ValuEngine downgraded shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub raised shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Oppenheimer Holdings, Inc. boosted their price objective on shares of Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Finally, Deutsche Bank AG boosted their price objective on shares of Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, September 8th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $65.60.

Barnes Group, Inc. (NYSE:B) traded down 1.71% during mid-day trading on Wednesday, reaching $63.98. 72,996 shares of the company’s stock were exchanged. Barnes Group, Inc. has a 52-week low of $37.95 and a 52-week high of $72.87. The stock has a 50-day moving average price of $69.53 and a 200 day moving average price of $61.10. The company has a market cap of $3.44 billion, a PE ratio of 22.37 and a beta of 1.45.

Barnes Group (NYSE:B) last announced its earnings results on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). The company had revenue of $357.16 million for the quarter, compared to the consensus estimate of $351.01 million. Barnes Group had a net margin of 11.20% and a return on equity of 12.44%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same period last year, the business posted $0.71 EPS. Equities analysts predict that Barnes Group, Inc. will post $2.87 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 22nd will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, November 21st. This represents a $0.56 annualized dividend and a yield of 0.86%. Barnes Group’s dividend payout ratio (DPR) is presently 19.72%.

In other Barnes Group news, Director Thomas O. Barnes sold 2,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $59.93, for a total transaction of $119,860.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by company insiders.

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About Barnes Group

Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.

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Institutional Ownership by Quarter for Barnes Group (NYSE:B)

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